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I have been a Chartered Accountant since 2017 and have Good amount of experience in Direct Tax especially replying various notices, assessment, capital gain calculation.
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| ✔ Business Incorporation | ✔ Accounting / Book keeping |
| ✔ Direct Taxation | ✔ GST |
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| ✔ Services | ✔ Textiles |
R
Rahul
If I am dropshipping goods by purchasing goods from usa seller to usa customers with goods not entering India then will this transaction come under gst and I need to get iec or not import export code...
Hello, this won't be covered under GST and no need to get IEC code.
If you need any further clarification feel free to contact at canamanmaloo@gmail.com
N
Nitish Jain
I have one query, shares were vested on Mar-15-2022: 7 units for which 31.2% tax (2.184) should be deducted as taxes withheld, but 3 got deducted, is there a way I can claim (3-2.184 = 0.816) units amount in ITR?
If you have any proof of such tax payment you can claim credit of same, but since it will be a part of your form 16 I think you will automatically claim it.
If you need any further assistance you can mail at canamanmaloo@gmail.com
G
Gaurav
Hi Everyone,
I am looking for professional advice regarding the new company registration. We are planning to start a company for garbage collection from domestic household, basically a waste management company. So my question is that is it mandatory to register the company under PVT Ltd due to local municipality compliances or I can register the company under partnership firm or sole proprietorship and start the operations. There would be hardly 2-4 employees in the beginning, but we have a vision of raising funding or loan in future. Appreciate your valuable advice on this.
If your local municipality requires you to be a private limited company you will have to open it and if not then you can work as a partnership or proprietorship.
25 Apr 2023I will advise you to opt for Pvt Ltd Company or LLP instead of all other options.
For more assistance, you cna connect with us at ca.pujasharma@outlook.com
A
Allan Stanley
Can a private limited company trade in futures and options
Yes, no bar. For more information, kindly connect with us at deepakkucheria@gmail.com or +91-9911744028
CA Naman Maloo 26 Mar 2023Yes you can but it can be covered under definition of NBFC so be aware of that as you need to do more compliances. For consultation CLICK HERE: https://www.taxontips.com/tax-notice-personal-consultation/
T&C applyS
Sugan
I work as contract employee and providing the technical services to my client, my employer deducts 2% TDS under section 194J, can I take benefits of section 44ADA when I file my return?
The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh. The presumptive scheme of taxation reduces compliance burden on small professions and facilitates ease of doing business. Under the presumptive scheme of taxation, profits are presumed at 50% of the gross receipts. For more professional help , reach us @ www.tarunguptaca.com or call at 9216216819
CA Naman Maloo 26 Mar 2023It depends on what actually is your work whether it is covered u/s 44AA or not it does not matter whether TDS is getting deducted u/s 194J or not.
For better consultation CLICK HERE: https://www.taxontips.com/tax-notice-personal-consultation/
P
Promila
I have a website which sell digital services. The monthly income from the website is 15000 Rs. Do I need to get registered for GST and proprietorship. Currently I am accepting payments through payment gateway through personal PAN.
Providing Services through own website within the state or Outside State:.Threshold limit will be applicable, not required to be compulsorily registered under GST. For professional help, reach us @ www.tarunguptaca.com
I don't think currently you need any GST registration.
For consultation CLICK HERE: https://www.taxontips.com/gst-consultation/
H
Harpreet Singh
I am a student and received big amount in my bank account from father's bank account in year 2022-2023.do i need to file itr?
Gift from father as explained by the Income Tax Act is not taxable in the hands of the son. However clubbing provisions U/s.64(2) applicable in case when the Son is a Minor. For professional help, reach us @ www.tarunguptaca.com.
Dear Harpreet,
Money can be received in two ways 1) Gift & 2) Loan.
Please confirm are you going to return it or not accordingly it can be shown, however proper documents needs to be in placed.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
Its a gift and since it is from your father you won't be required to file return if you don't have any other income.
T&C applyD
Deepak
I am buying a property. Seller is NRI. They have given me NRE account to transfer the advance. Can i do that or is it not allowed
To transfer the money in NRE a/c , TDS is to be deducted & Form 15 CA & 15 CB is to be submitted before transfer. For professional help, can reach us @ www.tarunguptaca.com or call at 9216216819.
CA Naman Maloo 26 Mar 2023I think that is not advisable you should transfer in NRO account. As you would be required to even file 15CA and 15CB. For consultation click here: https://www.taxontips.com/tax-notice-personal-consultation/
T&C applyN
Nitin Singh
I am starting business of sales of E ricksaw. As per GST till RS 40 lacs sale we do not need GST registration. Should we take GST now or wait till sale of Rs 40 lacs as i dont know how much i will end by March 2024. Kindly guide
Dear Nitin,
No need to take registration immediately, you can wait and when it is about to reach 40 Lacs you can apply for GST. Please keep in mind some time GST reg. gets immediately & some time it may take a month. so you can apply for reg. accordingly.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
Hi, You are correct that till Rs. 40 Lacs GST registration is not required. However, in case you are purchasing raw materials or other items for your business on which GST is charged by your supplier, then you will be able to take credit of the GST charged on that invoice only if you have GST registration. Hence it is advisable to obtaing GST registration if GST would be included in the purchases to be made for your business.
For more information, kindly connect with us at +91-9911744028 or deepakkucheria@gmail.com
I think you should take GST registration as you can take GST credit and that could reduce your cost. Also, if you are dealing with business they might need GST credit. For GST consultation click here: https://www.taxontips.com/gst-consultation/
T&C applyS
SURAJ
LET ME HONEST WITH YOU, I AM DOING A DAILY TRANSITION OF 1 LAKH FROM MY BANK ACCOUNT DEBIT CARD TO SOMEONE'S PAYTM WALLET OR TO MY OWN WALLET AND TAKES MY SAME MONEY AGAIN IN MY BANK ACCOUNT AND REPEAT THIS PROCESS DAILY. I AM DOING THIS BECAUSE I GET 1% CASHBACK ON MY CARD FOR DOING TRANSITION. WILL THIS ACTION OF MINE CAN CAUSE TROUBLE TO ME FROM INCOME TAX DEPARTMENT
You might get a notice depending on what is your income.
You can understand more here: https://www.youtube.com/watch?v=ks_mnMfVipI
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